TimesSquare Capital Management LLC lowered its holdings in Unifirst Corporation (NYSE:UNF) by 0.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 327,510 shares of the textile maker’s stock after selling 1,850 shares during the quarter. TimesSquare Capital Management LLC owned 1.62% of Unifirst Corporation worth $46,081,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in UNF. BlackRock Inc. grew its holdings in Unifirst Corporation by 52,993.4% in the 1st quarter. BlackRock Inc. now owns 1,852,961 shares of the textile maker’s stock valued at $262,102,000 after buying an additional 1,849,471 shares during the last quarter. Neuberger Berman Group LLC grew its holdings in shares of Unifirst Corporation by 32.4% during the 1st quarter. Neuberger Berman Group LLC now owns 693,703 shares of the textile maker’s stock worth $98,124,000 after purchasing an additional 169,919 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Unifirst Corporation by 6.4% during the 1st quarter. Vanguard Group Inc. now owns 1,389,043 shares of the textile maker’s stock worth $196,481,000 after purchasing an additional 83,165 shares in the last quarter. TPG Group Holdings SBS Advisors Inc. grew its holdings in shares of Unifirst Corporation by 7.4% during the 1st quarter. TPG Group Holdings SBS Advisors Inc. now owns 678,600 shares of the textile maker’s stock worth $95,988,000 after purchasing an additional 46,874 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Unifirst Corporation by 8.9% during the 1st quarter. Victory Capital Management Inc. now owns 528,690 shares of the textile maker’s stock worth $74,783,000 after purchasing an additional 43,313 shares in the last quarter. 73.47% of the stock is currently owned by hedge funds and other institutional investors.
UNF has been the topic of several recent research reports. Zacks Investment Research raised Unifirst Corporation from a “hold” rating to a “buy” rating and set a $157.00 price objective on the stock in a report on Tuesday, May 30th. Robert W. Baird raised Unifirst Corporation from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $145.00 to $163.00 in a research note on Thursday, June 29th. Finally, BidaskClub lowered Unifirst Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th.
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Shares of Unifirst Corporation (NYSE UNF) traded up 0.52% during mid-day trading on Friday, reaching $145.30. The company had a trading volume of 121,064 shares. The firm’s 50 day moving average is $140.81 and its 200-day moving average is $138.93. The stock has a market capitalization of $2.94 billion, a P/E ratio of 26.77 and a beta of 0.70. Unifirst Corporation has a 12-month low of $116.67 and a 12-month high of $147.65.
Unifirst Corporation (NYSE:UNF) last issued its quarterly earnings data on Wednesday, June 28th. The textile maker reported $1.36 EPS for the quarter, beating the consensus estimate of $1.34 by $0.02. The firm had revenue of $409.80 million during the quarter, compared to the consensus estimate of $396.07 million. Unifirst Corporation had a net margin of 7.12% and a return on equity of 7.41%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.49 earnings per share. On average, analysts expect that Unifirst Corporation will post $4.93 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be paid a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date is Thursday, September 7th. Unifirst Corporation’s payout ratio is currently 2.77%.
About Unifirst Corporation
UniFirst Corporation is a provider of workplace uniforms and protective work wear clothing in the United States. The Company designs, manufactures, personalizes, rents, cleans, delivers, and sells a range of uniforms and protective clothing, including shirts, pants, jackets, coveralls, lab coats, smocks, aprons and specialized protective wear, such as flame resistant and high visibility garments.
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